# Chicago corn pulls back from 6-month peak, Argentina dryness caps losses - Markets - Business Recorder

> Chicago corn fell about 0.6% on Tuesday after reaching a six-month high in the prior session, with dryness concerns in Argentina limiting losses. Soybeans and wheat also declined after a disappointing USDA export sales report. Traders weighed whether Trump's tariffs would be less aggressive than promised, and the dollar hovered near a one-week low.

- Date: 2025-01-07 · published 2025-01-07T12:00:00.000Z
- Category: weather · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/11502-chicago-corn-pulls-back-from-6-month-peak-argentina-dryness-caps-losses-markets
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Argentine dryness supports corn and soymeal supply concerns, while a weaker dollar and possible tariff relief support export demand, though soybean prices remain exposed to trade-war risk.

## Read by commodity

- DXY: bearish ▼
- SBM: bullish ▲
- SOY: neutral
- CORN: bullish ▲
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2025-01-06 | 1 | -1.2% | -3.2 | Tuesday wheat declined after a disappointing USDA export sales report, with traders weighing tariff risk, which is a demand-side and sentiment driver close to the move date. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-07-02 | [Corn holds near 3-1/2 month peak as crop outlook, demand assessed - Markets - Business Recorder](https://feedsoft.ai/events/12776-corn-holds-near-3-1-2-month-peak-as-crop-outlook-demand-assessed-markets.md) | +0.9% | -6.0% |
| CORN | 2024-09-23 | [Chicago wheat rises on global crop concern - Markets - Business Recorder](https://feedsoft.ai/events/5608-chicago-wheat-rises-on-global-crop-concern-markets-business-recorder.md) | +1.3% | -0.8% |
| CORN | 2023-02-21 | [Corn near 1-week high on Argentina supply woes, soybeans firm - Markets - Business Recorder](https://feedsoft.ai/events/37347-corn-near-1-week-high-on-argentina-supply-woes-soybeans-firm-markets-business.md) | -4.0% | -5.1% |
| CORN | 2024-04-23 | [Chicago wheat futures extend gains - Markets - Business Recorder](https://feedsoft.ai/events/12141-chicago-wheat-futures-extend-gains-markets-business-recorder.md) | -0.1% | +4.1% |
| CORN | 2021-01-05 | [Dry weather expected to keep pressuring Argentine soy, corn yields - Markets - Business Recorder](https://feedsoft.ai/events/48999-dry-weather-expected-to-keep-pressuring-argentine-soy-corn-yields-markets.md) | +3.1% | +14.6% |
| SOY | 2021-02-04 | [Argentina's corn and soy crops pull away from stricken 2018 harvest - Markets - Business Recorder](https://feedsoft.ai/events/48461-argentina-s-corn-and-soy-crops-pull-away-from-stricken-2018-harvest-markets.md) | -1.3% | +3.2% |
| SOY | 2025-02-18 | [Wheat eases from 4-month highs, soybean flat - Markets - Business Recorder](https://feedsoft.ai/events/26078-wheat-eases-from-4-month-highs-soybean-flat-markets-business-recorder.md) | -0.7% | -2.0% |
| SOY | 2021-11-24 | [Beneficial rains for Argentina’s soyabeans do not cancel La Nina risks - Markets - Business Recorder](https://feedsoft.ai/events/14072-beneficial-rains-for-argentina-s-soyabeans-do-not-cancel-la-nina-risks-markets.md) | -3.5% | +4.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40341463

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.